Market Overview For 14th September 2022

September 14, 2022 by Ayush Anjana · 2 min read


The Indian Broader Indices opened with a gap up and stayed range bound for the remaining day , Nifty gave a daily close above 18000. Among the sectoral Indices metals were the leading index and IT and realty were the laggards.

Nifty Futures

Daily charts

  • Nifty Futures gives a daily close above 18000 , closing around 18100 breaking above the previous resistance of 18000
  • Support area around 17840 , the inside bar breakout retest area
  • The broader trend is positive , any reversion to the key support area will be ideal for fresh positional longs

Nifty Futures 45 Minute chart analysis 

  • Nifty futures broke the 18000 hurdle with a gap up and sustained upwards 
  • On a smaller time frame key decision level are 18000 and 17840
  • In case of a gap down , how the index futures responds to 17840 level will be the key
  • Opening below 18000 we can expect rangebound movement between 17840-18000 
  • Breaking below 17840 and sustaining for more than 20 minutes will give strength to the bears

Nifty Futures 15 Minute chart

Banknifty Futures

Daily Chart

  • banknifty futures opened with a gap up above friday’s high and sustained 
  • Broader trend is bullish with key support at 40000 , the breakout retest area
  • Any dip towards 40000 will be an opportunity with a high risk reward factor for positional longs

Banknifty Futures 45 Minute Chart analysis

  • Banknifty futures opened above 40750 where previously it got rejected multiple times
  • After the gap , there wasn’t even significant up move but bank nifty ended up consolidating
  • Key levels to watch in case of flat opening are PDH and 40750
  • In case of a gap down opening key support area around 40350 and since the broader trend is up , it can be observed how index reacts around that level
  • If 40350 is broken and sustained below for more than 20 Minutes we can witness banknifty retest the 40000 level 

Banknifty Futures 15 Minute chart